|By Business Wire||
|December 18, 2013 09:15 AM EST||
The home energy management (HEM) market has struggled to gain traction in recent years, particularly from a utility standpoint. However, HEM systems have picked up momentum since early 2012, as non-utility stakeholders have moved in and started to lay the groundwork for growth. Click to tweet: According to a new Leaderboard report from Navigant Research, Opower currently leads the HEM market in terms of strategy and execution.
“Companies like ADT, Verizon, Comcast, and AT&T in the United States have added energy management as an optional package that can be bundled with home security, automation, or Internet service, even as big-box retailers, such as Lowe’s and Home Depot, have expanded into energy management products,” says Neil Strother, senior research analyst with Navigant Research. “As this market grows, software platforms and analytics will play an important role in how customers interact with hardware and applications, such as utility demand response or energy efficiency programs that enable them to be more efficient users of energy and to lower their bills.”
Opower, which has developed a suite of technology solutions that resonate with utility goals to engage residential customers and help them reach their goals of becoming more energy efficient, emerged as the sole Leader in this report. In addition, Opower has been able to extend its products to clients in Europe, and a recent deal in Japan with TEPCO gives it a foothold in the Asia Pacific region. Among a competitive cluster of companies ranked as Contenders, Aclara, AlertMe, and Silver Spring Networks have established themselves as potential vendors that could challenge the Leader category in coming years.
The report, “Navigant Research Leaderboard Report: Home Energy Management”, examines the strategy and execution of 16 companies that offer HEM software solutions and rates them on 12 criteria. Using Navigant Research’s proprietary Leaderboard methodology, vendors are profiled, rated, and ranked with the goal of providing industry participants with an objective assessment of these companies’ relative strengths and weaknesses in the global HEM market. One company emerged as the Leader, namely Opower, which scored highest for its ability to offer innovative suite of solutions to utilities and consumers that help them more efficiently manage energy use. Eleven others are ranked as Contenders, two are Challengers, and two are Followers. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “Navigant Research Leaderboard Report: Home Energy Management,” is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.